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Qualcomm to invest $121 million in Sharp: Report

Sharp could receive about 5 billion yen from Qualcomm through a private placement of new shares by the end of the year.



Zeebiz Bureau

Tokyo: Qualcomm Inc may become Sharp Corp's biggest shareholder, thereby helping the latter boost its shareholder equity ratio, a news agency has reported.

Citing sources, the agency said that Qualcomm is likely to invest as much as 10 billion yen (USD 121.5 million) in Sharp.

Under its terms, Sharp could receive about 5 billion yen from Qualcomm through a private placement of new shares by the end of the year, with the remaining investment to come after panel production starts.

The agency further said that Sharp may announce the tie-up as early as Tuesday.

With Agency Inputs

From Zee News

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